Hi I'm new to this site but i would like to response to this thread. We had our loan modified back in October 08 and at that time we had a sub-prime loan, and what
cw did was put the past due amount towards our principal amount and added an escrow account and changed our loan to a conventional. As of January 09 we applied for another modification through the AG settlement requesting our interest rate to be reduced, we currently have a fixed rate at 7% for 30 years. I was told yesterday by the home retention dept. that we were granted the modification, however they did not lower our interest rate, what the are proposing is interest only for 2 years. I believed our package is suppose to go out this week. We are considering accepting this offer even though we have always paid principal and interest. I really would like a rate reduction because our income has been reduced due to the economy but I'm so do done being stressed out and checking the website every hour and calling
cw everyday.